Egyptian pound sees largest single-day fall since IMF deal
Egypt’s Central Banks says the pound has seen its largest single-day slide since the government agreed to a $3 billion International Monetary Fund deal in late October.
Business
Meta dealt blow by EU ruling that could result in data use ‘opt-in’
Irish regulator fines Facebook owner €390m after EU rejects argument for use of data to drive personalised adsThe business model of Mark Zuckerberg’s Meta empire has been dealt a blow following a ruling that its legal justification for targeting users …
UK’s Sunak vows to halve inflation, tackle illegal migration
British Prime Minister Rishi Sunak, in his first major speech of 2023, has pledged to halve inflation, grow the U.K. economy and stop illegal immigration.
Euan Blair’s edtech firm Multiverse reports sixth straight year of losses
Company valued last year at £1.4bn says revenues rose almost threefold to £27mEuan Blair’s apprenticeship company, Multiverse, made a pre-tax loss of £14.2m last year – the sixth straight year of losses since the son of the former prime minister set it…
Rail strikes: train drivers’ union Aslef dismisses reported 3% pay offer
Union leader Mick Whelan brands reported £2,000 rise just before latest 24-hour strike as ‘tokenism’The train drivers’ union has dismissed as “tokenism” a pay offer reportedly being drawn up by the government before a new strike by its members on Thurs…
BT invests £5m in plan for ‘drone superhighway’ across southern England
Telecoms giant invests in startup aiming to fly cargo along 165-mile corridor from Reading to RugbyBT has invested £5m in a startup seeking to create a drone corridor across southern and central England to carry cargo and other supplies.The telecoms gr…
Salesforce to cut staff by 10% in latest tech sector layoffs
The software giant employs more than 2,000 people in Ireland
Culture secretary ‘recommends dropping Channel 4 privatisation’
Michelle Donelan has reportedly written to PM saying ‘pursuing a sale at this point is not the right decision’The UK culture secretary has recommended the government drop its plans to privatise Channel 4, according to a leaked letter that suggests mini…
Salesforce cuts about 10% of its workforce
Salesforce is laying off about 10% of its workforce, more than 7,350 employees, in the latest round of job cuts in the tech industry as corporations cut back on software and other spending.
Sainsbury’s to pay at least £11 an hour for 127,000 lowest-paid workers
Third pay rise in a year gives staff 7.3% rise amid fierce competition to retain and recruit employeesSainsbury’s is giving its lowest-paid workers their third pay rise in a year, taking hourly wages to at least £11, amid fierce competition for shop wo…